News Formal

Stock market news today: S&P 500, Dow surge to record highs as blue chip index gains over 700 points

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 22 sec. here
  • 6 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 63%

Morgan Stanley News

Nasdaq Composite,Blue-Chip Index,S&P 500

Investors assessed another batch of big bank earnings and looked to fresh retail data amid growing conviction an interest rate cut is near.

The Dow Jones Industrial Average surged more than 700 points on Tuesday to secure another all-time closing high. The benchmark S&P 500 also notched another record amid growing conviction an interest rate cut is near. The blue-chip index rose more than 1.8%, thanks to positive earnings from UnitedHealth , which saw shares rise about 5%. Stocks closed in the green across the board as investors assessed better-than-expected earnings across multiple sectors, along with a retail sales surprise.

More broadly, stocks are holding onto gains after Chair Jerome Powell signaled the Federal Reserve is gearing up to start lowering rates soon, given recent solid inflation prints. Retail sales came in flat but better than expected in June, data out Tuesday showed, adding to the easing in price pressures that have boosted faith in a September cut — a prospect that has already wakened wider bullishness for stocks beyond techs.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: S&P 500, Nasdaq hover near records as Nvidia becomes most valuable stockTechs are continuing to lead an AI-driven rally that investors simply can't afford to miss out on.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Stock futures steady as S&P 500, Nasdaq try to build on recordsA consequential week that could provide key signals for the near-term path of interest rates.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: S&P 500 hovers near 5,500 level as Nvidia surge continuesNvidia's record-breaking surge, which catapulted it to the title of world's most valuable public company, was set to continue.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: S&P 500, Nasdaq jump as Nvidia surge continuesNvidia's record-breaking surge, which catapulted it to the title of world's most valuable public company, was set to continue.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: S&P 500, Nasdaq set to jump as Nvidia surge continuesNvidia's record-breaking surge, which catapulted it to the title of world's most valuable public company, was set to continue.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »